TriNet Group, Inc. (NYSE:TNET) Stake Lifted by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank raised its stake in TriNet Group, Inc. (NYSE:TNET) by 9.1% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 9,211 shares of the business services provider’s stock after buying an additional 769 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in TriNet Group were worth $730,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the stock. LPL Financial LLC increased its holdings in shares of TriNet Group by 6.5% in the 4th quarter. LPL Financial LLC now owns 9,786 shares of the business services provider’s stock worth $888,000 after acquiring an additional 597 shares during the period. Norges Bank acquired a new stake in shares of TriNet Group in the fourth quarter valued at approximately $13,660,000. Orion Portfolio Solutions LLC raised its holdings in shares of TriNet Group by 26.4% during the fourth quarter. Orion Portfolio Solutions LLC now owns 3,706 shares of the business services provider’s stock valued at $336,000 after buying an additional 773 shares during the last quarter. Alliancebernstein L.P. boosted its position in shares of TriNet Group by 495.2% during the fourth quarter. Alliancebernstein L.P. now owns 214,217 shares of the business services provider’s stock worth $19,444,000 after buying an additional 178,228 shares during the period. Finally, Wells Fargo & Company MN boosted its position in shares of TriNet Group by 4.7% during the fourth quarter. Wells Fargo & Company MN now owns 77,518 shares of the business services provider’s stock worth $7,036,000 after buying an additional 3,456 shares during the period. 96.81% of the stock is currently owned by institutional investors.

TriNet Group Stock Performance

Shares of TNET opened at $63.10 on Wednesday. TriNet Group, Inc. has a 52-week low of $62.72 and a 52-week high of $104.06. The firm has a market capitalization of $3.07 billion, a PE ratio of 21.68 and a beta of 0.83. The firm has a 50-day moving average price of $73.15 and a 200 day moving average price of $77.96. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 8.36.

TriNet Group (NYSE:TNET) last posted its quarterly earnings data on Friday, July 25th. The business services provider reported $1.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.03 by $0.12. TriNet Group had a net margin of 2.85% and a return on equity of 208.35%. The business had revenue of $282.90 million during the quarter, compared to analysts’ expectations of $278.93 million. During the same period last year, the firm posted $1.53 earnings per share. On average, sell-side analysts anticipate that TriNet Group, Inc. will post 3.04 earnings per share for the current fiscal year.

TriNet Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 28th. Stockholders of record on Tuesday, July 1st were paid a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date of this dividend was Tuesday, July 1st. TriNet Group’s payout ratio is currently 37.80%.

Wall Street Analyst Weigh In

Separately, JPMorgan Chase & Co. cut their target price on TriNet Group from $76.00 to $75.00 and set an “underweight” rating on the stock in a research note on Monday, July 28th.

Insider Buying and Selling at TriNet Group

In related news, SVP Sidney A. Majalya sold 500 shares of TriNet Group stock in a transaction dated Wednesday, May 21st. The stock was sold at an average price of $83.14, for a total transaction of $41,570.00. Following the transaction, the senior vice president directly owned 23,033 shares of the company’s stock, valued at $1,914,963.62. The trade was a 2.12% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO Jeffery Jon Hayward sold 1,437 shares of the business’s stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $82.04, for a total transaction of $117,891.48. Following the completion of the sale, the chief technology officer owned 32,932 shares in the company, valued at approximately $2,701,741.28. This trade represents a 4.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 2,120 shares of company stock valued at $175,291. Insiders own 37.10% of the company’s stock.

About TriNet Group

TriNet Group, Inc provides comprehensive and flexible human capital management services for small and medium size businesses in the United States. The company offers multi-state payroll processing and tax administration; employee benefits programs, including health insurance and retirement plans; workers compensation insurance and claims management; employment and benefits law compliance; and other HR related services.